Renault, the French automaker, has signed a new agreement with Rennes, the French club that plays in the Ligue 1 league. The deal is worth €70 million and will see Renault extend its release clause to 70 million euros.

The Renault-Rennes agreement is part of a wider strategy by the French carmaker to strengthen its presence in Europe. Renault's recent investments in Germany have seen it become one of the biggest players in the German market, while its investment in China has also seen it expand its operations there.

Renault's move to Rennes comes at a time when the French auto industry is facing challenges, including high levels of competition from Chinese brands like Xiaomi and Apple. However, the French company remains committed to investing in Europe and expanding its operations there.

Renault has been a long-time partner of Rennes, having won the French Cup three times between 2015 and 2018. The deal marks a significant boost for both teams, as they look to build on their success together.

Rennes has already shown signs of growth in recent years, with a strong performance in the Ligue 1 last season. The team has also made several signings during the summer transfer window, including midfielder Christian Eriksen, who was loaned out to Paris Saint-Germain.

In addition to the financial benefits of the deal, Renault believes that it can benefit from Rennes' experience and expertise in the European football scene. By working together, the two clubs can create more opportunities for each other, and potentially even form partnerships in the future.

Overall, the Renault-Rennes agreement is a positive development for both teams. It shows that the French auto industry is not only focused on developing its own brand but also seeking to expand its operations and partnerships globally.